Oklahoma Senate Bill 773 - Summary

• Prohibits pharmacy benefits managers (PBMs) from conducting spread pricing, charging pharmacists or pharmacies fees related to claim adjudication or network participation, and retaliating against providers based on employee probation status with the State Board of Pharmacy.

• Requires PBMs to reimburse independent pharmacies at equal rates as PBM-owned pharmacies on a per-unit basis, prohibits retroactive claim denials except for fraud or audit errors, and mandates payment to pharmacies upon network termination.

• Grants the Attorney General authority to subpoena PBM records, examine compliance with pharmacy regulations, collect protected health information for investigations (subject to HIPAA restrictions), and establishes civil fines ranging from $100 to $10,000 per violation.

• Authorizes the Attorney General to request court reporters at state expense (unless PBM prevails), sets venue in Oklahoma County District Court for subpoena enforcement, and requires PBMs to submit quarterly reports detailing rebates, reimbursement amounts, and pricing data.

• Effective November 1, 2025; creates enforcement mechanisms allowing license suspension/revocation, restitution orders, and deposits collected penalties into the Attorney General's Pharmacy Benefits Manager Enforcement Revolving Fund.